ADD2127 London MedTech Network

Type of decision: 
Assistant Director's decision
Code: 
ADD2127
Date signed: 
26 June 2017
Decision by: 
Mark Kleinman (past staff), Assistant Director of Economic and Business Policy

Executive summary

This AD seeks the approval for a grant award of £24,500 to the South East Health Technologies Alliance to enable continued delivery of the London Medtech Network’s support for the growth needs of London’s 250 medical device, diagnostics and digital health sector SMEs. Deliverables include: 

•    Publication of the London MedTech Review & Directory: monthly updates of London firm database to promote the strengths of the sector and maximise opportunities for business to business collaboration 
•    London MedTech Business Awards: to promote London med tech innovation, including female entrepreneurship 
•    Annual London MedTech conference: to maximise networking across the sector 
•    Managing Brexit: to increase Mayoral business engagement, understand the implications of EU exit for the sector and recommend ways of managing this / capitalising on the opportunities  
•    Business development Surgeries for SMEs: to support SME development and growth.

Decision

The Assistant Director of Economic and Business Policy approves:

The award of grant funding totalling up to £24,500 to the South East Health Technologies Alliance to enable continued delivery of the London Medtech Network’s support for the growth needs of London’s 250 medical device, diagnostics and digital health sector SMEs.
 

Part 1: Non-confidential facts and advice

Introduction and background

The London MedTech Network, run by the South East Health Technologies Alliance, has been funded to date from the Growing Places Fund. £50,000 was approved by the London Enterprise Partnership to set up and deliver the programme (2015-16: MD 1561; 2016-17: single source request). 

This ADD seeks approval for an additional £24,500 to be released to continue the MedTech Network programme, supporting the growth needs of London’s 250 medical device, diagnostics and digital health sector SMEs. The payment is made through a grant fund, which is 50% match funded by SEHTA (South East Health Technology Alliance) and industry partners. 

In addition to the above, there is GPF carry forward (£10,891) has already been approved to deliver a business to business innovation programme. The ‘bigb2SME’ med tech programme aims to help med tech SMEs better understand and meet the needs of multinational health technology companies - leading to innovation pilots, collaborations, new products and services.   

Objectives and expected outcomes

The £24,500 funding will enable the MedTech Network to support the growth needs of London’s 250 medical device, diagnostics and digital health sector SMEs through (during 2017-18):

•    Management of the Network: refresh the London MedTech Steering Group membership, management of meetings. 
•    Publication of the London MedTech Review and Directory: monthly on-line updates of London company database; production of 200 hard copies of Annual London MedTech Review and Directory; incorporation into Directory firm research interests.
•    London MedTech Business Awards: creating applications; leading on promotion of awards and collection of entries; leading on awards ceremony organisation including trophies.
•    Annual London MedTech conference: development of programme, recruitment of speakers, promotion and publicity, event logistics.
•    Managing Brexit: maximum 3 events, including at least 1 roundtable initial meeting to establish priorities, 20 SMEs participate, report produced.
•    Business development Surgeries for SMEs: minimum 8 SMEs participate, 2 companies to make significant progress to funding. 
•    Marketing and communications: PR, e-shots, cross network liaison.

Equality comments


The London MedTech Network will reach out to underrepresented groups, in particular female entrepreneurs, and will maximise the use of comms and event platforms to promote the strengths of London’s female med tech entrepreneurs. We will also ensure there is disabled access to all events.
 

Other considerations

The London MedTech Network will support the delivery of the following Mayoral priorities: engaging and partnering with London’s business base; supporting innovative tech solutions; supporting SME growth; championing London’s investment opportunities; and managing the implications of Brexit.   

The consultants delivering the project will provide an interim and final report of all deliverables, with payment dependant upon delivery of time bound milestones. Feedback sheets are also available at business events. 

Key risks include:
•    Project is viewed as a top down Government led project: mitigation is to increase SME membership of steering group and encourage SMEs to take greater leadership in the project 
•    Delay in delivery of outputs: the consultant has a consistent track record of on time delivery, whilst the project will be managed to ensure any potential delay is effectively managed to minimise impact on outcomes
•    Insufficient SME demand: the design of the project has been based on research and feedback from London’s SME base, budget for comms and marketing has been increased, including for cross city collaboration.

Financial comments

5.1     The proposed grant award to the South East Health Technologies Alliance of up to £24,500 will be funded from the Development, Enterprise & Environment ‘Minor Programme’ budget for 2017-18. 

Planned delivery approach and next steps

Activity

Timeline

Procurement of contract [for externally delivered projects]

June 2017

Announcement [if applicable]

n/a

Delivery Start Date [for project proposals]

3rd July 2017

Main milestones: Managing Brexit meetings arranged, steering group refreshed and meetings held, 2 Business Surgeries held engaging 8 SMEs minimum

December 2017

Main milestones: Delivery of London MedTech business awards, publication of Med Tech Review, delivery of managing brexit report, 50 unique SMEs engaged    

July 2018

Final evaluation start and finish (self/external) [delete as applicable]:

July 2018

Delivery End Date [for project proposals]

tbc

Project Closure: [for project proposals]

tbc